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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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To: LoneClone who wrote (9127)	4/15/2006 6:57:51 PM
From: HotnSpicy	Read Replies (1) of 78421

The sleeper for Peru may turn out to be Century Mining. They just purchased 60% of a small producer, but the mine has substantial near term potential as it has an existing mill that can produce 700 TPD of 12-15 gpt material and push output to 80,000 oz in about 6 months with just $10MM in capital. The other 40% is owned by the workers of the mine, so they are covered on the political end. But the interesting part of the purchase is not just the 1.5MM oz of reserves that will likely be moved into 43-101 very soon, but the VERY large epithermal targets suitable for large low cost heap leach. Just the Golden Champune orebody has historical resources of 185MM tonnes of 1-3 gpt ore or about 12MM oz at 2gpt. FYI Barrick opened their Peruvian Del Norte mine last year with 9MM oz of 1 gpt ore and are producing 1MM oz/yr at cash costs of $100-$110. I imagine CMM has the ability to put a sizeable heap leach of their own into operation in a few years as well that could easily triple, quadruple or more their current 100,000 oz output. And that's just for starters as there are more epithermal targets close by. Plus they have 35 veins in the existing mine. Only 2 have been mined so far. And the stuff is high grade 12-15 gpt ore. Anyone looking for a grossly undervalued play owes themselves some serious DD on CMM. New thread on SI siliconinvestor.com and an active Stockhouse board with good DD... New Investor Presentation available on their website for this Peru purchase. www.centurymining.com/investor.php under "New Developments" Just have a gander at the ore body. Stuff shines in golden "sigmoid" swirls at surface. Beautiful to look at... With a market cap of only C$150MM and 100,000 oz production plus substantial growth (IR saying to expect 200,000 oz rate by year end), CMM is an utter steal at current prices. And management is determined to make them a 1MM oz producer within 5 years. Frankly, if Peru works out, they may get there faster than that...

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